Jon Rausch Named 2015 Top 20 Industrial Brokers
Executive Director Jon Rausch has been named one of Cushman & Wakefield’s Top 20 Industrial Brokers in the Americas (North and South America) for his 2015 performance. The annual list recognizes top-producing brokers in the Cushman & Wakefield platform in the Americas. Rausch specializes in land services primarily in Minnesota and Western Wisconsin. Congratulations Jon!
United Properties to Go “Spec” on Maple Grove Industrial Building
United Properties has closed on a site in Maple Grove where it is planning to build a large industrial building ‘on spec’ — meaning it’ll move ahead even without signed lease deals.
The Bloomington-based developer will begin construction Sept. 15 on what it calls the Red Rock Industrial Building, with 32-foot ceiling and 320,000 square feet of space, near the intersection of County Road 81 and 85th Avenue North. The company bought the site for $4.17 million from Maple Grove-based Raven Investments. Read more
Elion/Kraus-Anderson Breaks Ground on $100 Million Mixed Use Woodbury Development
A joint venture between Elion Partners andKraus-Anderson Cos. closed Thursday on a purchase of a 100-acre site in Woodbury from State Farm Insurance.
Florida-based Elion and Minneapolis-based Kraus-Anderson didn’t disclose the value of the land deal. The firms have spent 18 months pursuing a massive $100 million redevelopment of the site into a mixed-use office, hotel and retail center. Kraus-Anderson will begin grading the site Friday. Read more
Apartment, Retail and Market Planned for St. Paul’s Sibley Plaza
St. Paul’s Sibley Plaza shopping center will be torn down after nearly 60 years to make way for a Fresh Thyme Farmers Markets grocery store, a fitness center and 120 apartments, according to plans released by the property owner.
Sibley Plaza owner Paster Enterprises is partnering with Bader Development on the $50 million mixed-use project at the West Seventh Street property, which Paster has been contemplating for months. Read more
Duke, DLC Residential Revise Plans For West End
A Cushman & Wakefield/Northmarq Transaction
Duke Realty has pic
ked Dolce Living to develop two new, six-story buildings with a total of 400 apartments at the West End mixed-use development in St. Louis Park.
I reported earlier this month that Duke was pursuing partners to help it develop part of the site at the intersection of Highway 100 and Interstate 394 on the border of St. Louis Park and Golden Valley. It’s also trying to find a buyer for the lifestyle shopping center and entertainment complex known as the Shops at West End.
Indianapolis-based Duke is in the process of forming a strategic partnership with Hallendale Beach, Fla.-based Dolce. The companies want to create an urban village and still develop office space on the undeveloped portion of the site, according to a memo to the St. Louis Park City Council from Greg Hunt, the city’s economic development coordinator. Read more
Anytime Fitness Moving Headquarters to Woodbury
Anytime Fitness released images of its new corporate campus as it gets ready to break ground on the Woodbury headquarters building.
The 80,000-square-foot building will house 250 employees who are now working in the fitness club chain’s current headquarters in Hastings.
The new digs include a fitness club, outdoor gathering areas that will also be used for physical activities, a smoothie bar that turns into an alcohol bar, a gaming area and adjustable workstations that allow employees to work while standing or moving, said spokesman Mark Daly. Read more
Woodbury, Lakeville, Blaine and Maple Grove Continue to Lead Residential Sector
The Builders Association of the Twin Citiesreported “lackluster performance in both single family and multi-family construction” during August.
The BATC reported that builders took out 413 home building permits in August, down 16 percent from the 494 permits in August 2013, according to a press release. Read more
Opus and Mortenson Pitch Plans for St. Paul Site
The city of St. Paul received development proposals for a city-owned plot near theXcel Energy Center from Minnetonka-basedOpus Group and Golden Valley-basedMortenson Development. Read more
Woodbury State Farm Campus Eyes Redevelopment
A Florida-based real estate investment company appears to be winning over Woodbury officials with the idea of building 100,000 square feet of medical office space near the 400,000-square-foot former State Farm building off Interstate 94.
There would be two build-to-suit medical office buildings — 50,000 square feet each — to the north, a high-end grocery store and pedestrian-friendly retail to the south and possibly a hotel to the northwest of the former State Farm office building, according to a preliminary master concept plan released Thursday by Aventura, Fla.-based Elion Partners. Read more